HAL signs MoU with Govt, eyes Rs. 17,900 crore revenue in FY18

HAL has targetted the highest ever revenue from its operations at Rs 17,900 crore for 2017-18 under a Memorandum of Understanding (MoU) with Ministry of Defence (MoD).

The company has also laid specific emphasis on capacity building, modernisation and solar power plants, aiming to achieve capital expenditure of Rs 1,300 crore, HAL said here.

The annual MoU, signed between Ashok Kumar Gupta, Secretary, Department of Defence Production, and T Suvarna Raju, CMD-HAL, outlines targets on various performance parameters of the Company during 2017-18.

HAL's thrust is on Make-in-India projects such as Hindustan Turboprop Trainer-40 (HTT-40), Light Combat Helicopter (LCH) and Light Utility Helicopter (LUH), the company said in a statement here. Among the important milestones targeted to be achieved include clearance by DGCA for civil version of Do-228 aircraft, Jaguar DARIN-III Upgrade and Mirage 2000 Upgrade. The Company also aims to achieve 5 per cent increase in indigenous content through indigenisation under Make-in-India initiatives.